Panagora Asset Management Inc. Cuts Position in AECOM $ACM

Key Points

• Panagora Asset Management Inc. reduced its holdings in AECOM by 3.7%, now owning 512,214 shares valued at approximately $47.5 million after selling 19,465 shares.
• A number of institutional investors, including the Manufacturers Life Insurance Company, significantly increased their stakes in AECOM, with the firm now being 85.41% owned by hedge funds and institutional investors.
• AECOM reported a strong quarterly EPS of $1.34, exceeding estimates, and also disclosed a quarterly dividend of $0.26 per share with a yield of 0.8%.

Panagora Asset Management Inc. decreased its holdings in AECOM (NYSE:ACM - Free Report) by 3.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 512,214 shares of the construction company's stock after selling 19,465 shares during the quarter. Panagora Asset Management Inc. owned about 0.39% of AECOM worth $47,498,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. TCTC Holdings LLC boosted its position in shares of AECOM by 120.3% in the 1st quarter. TCTC Holdings LLC now owns 304 shares of the construction company's stock worth $28,000 after purchasing an additional 166 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of AECOM by 212.9% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 316 shares of the construction company's stock worth $29,000 after purchasing an additional 215 shares in the last quarter. SVB Wealth LLC acquired a new stake in shares of AECOM in the 1st quarter worth $33,000. Private Trust Co. NA boosted its position in shares of AECOM by 37.2% in the 1st quarter. Private Trust Co. NA now owns 413 shares of the construction company's stock worth $38,000 after purchasing an additional 112 shares in the last quarter. Finally, Eastern Bank acquired a new stake in shares of AECOM in the 1st quarter worth $49,000. Institutional investors and hedge funds own 85.41% of the company's stock.

Analyst Upgrades and Downgrades

ACM has been the subject of a number of recent analyst reports. Royal Bank Of Canada raised their price objective on AECOM from $123.00 to $126.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Robert W. Baird raised their target price on AECOM from $108.00 to $118.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Barclays raised their target price on AECOM from $120.00 to $130.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 12th. Wall Street Zen upgraded AECOM from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, KeyCorp raised their target price on AECOM from $129.00 to $131.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Nine investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $128.44.

AECOM Stock Performance

Shares of ACM stock traded down $0.84 on Wednesday, hitting $124.10. The company had a trading volume of 945,117 shares, compared to its average volume of 981,203. The firm has a market cap of $16.44 billion, a P/E ratio of 27.04, a price-to-earnings-growth ratio of 1.85 and a beta of 0.99. The company has a 50-day moving average price of $117.06 and a 200-day moving average price of $106.38. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.91. AECOM has a twelve month low of $85.00 and a twelve month high of $126.29.

AECOM (NYSE:ACM - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The construction company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.09. The business had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $4.33 billion. AECOM had a return on equity of 27.87% and a net margin of 3.82%.The company's revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.16 EPS. AECOM has set its FY 2025 guidance at 5.200-5.300 EPS. As a group, equities research analysts predict that AECOM will post 5.1 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Troy Rudd sold 53,097 shares of the business's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $119.56, for a total value of $6,348,277.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.41% of the stock is currently owned by company insiders.

AECOM Profile

AECOM, together with its subsidiaries, provides professional infrastructure consulting services worldwide. It operates in three segments: Americas, International, and AECOM Capital. The company offers planning, consulting, architectural and engineering design, construction and program management, and investment and development services to public and private clients.